Bloomberg News

Turnstar of Botswana Says Profit Increases 14% in First Half

October 31, 2011

Oct. 31 (Bloomberg) -- Turnstar Holdings Ltd., a Botswanan property company, said profit for the six months through July increased by 14 percent to 27.7 million pula from 24.4 million pula a year ago.

Revenue rose 16 percent to 48.4 million pula from 41.9 million pula, while operating profit was 29.5 million pula, up from 25.7 million pula, the Gaborone-based company said in a statement in the Mmegi Monitor newspaper. It declared an interim dividend of 6.7 thebe per share.

Turnstar wants to grow its property portfolio outside Botswana and is in talks with Mlimani Holdings Ltd, a property company in Tanzania, the company said.

To contact the reporter on this story: Jerry Bungu in Gaborone at jbungu@bloomberg.net

To contact the editor responsible for this story: Hilton Shone at hshone@bloomberg.net


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